(Wireless-NewsWire.Com, September 25, 2019 ) According to the new market research report "Telecom Service Assurance Market by Software (Probe Monitoring, Fault & Event Management, Quality & Service Management, Network Performance Monitoring, and Workforce Management), Service, Organization Size, Deployment Type - Global Forecast to 2021", published by MarketsandMarkets, the telecom service assurance market size is estimated to grow from USD 4.30 Billion in 2016 to USD 7.01 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.3% during the forecast period.
The key forces driving the telecom service assurance market include need for high optimization & increased cost savings, voluminous increase in the number of subscribers, and ability to measure the performance of a service & Quality-of-Service (QoS). Moreover, with the subsequent increase in the adoption rate of cloud service assurance, the market is expected to gain major traction during the forecast period.
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Probe monitoring software is expected to have the largest market share in 2016.
The probe monitoring software is an important part of the telecom service assurance ecosystem. Probe monitoring helps the clients to check the network and applications for any discrepancy as a method of pre-intimation. The demand in this segment is largely driven by infrastructure network upgrades, triple digit growth of data services in the developed economies, and a robust subscriber growth in the emerging markets.
Managed services segment is expected to grow at the highest rate during the forecast period.
The managed services segment in the telecom service assurance market is expected to grow at the highest rate during the forecast period. Various managed services, such as Information Technology (IT) outsourcing, business process outsourcing, and delivery management help in a fast and smooth operational flow for the Communication Service Providers (CSPs), thereby reducing their operational cost. Small and Medium Enterprises (SMEs) are increasingly getting inclined towards outsourcing services to support their business requirements to focus on their core business functions. Thus, these services not only help the client in streamlining its business process but also negate the hassles of operations, thereby increasing the efficiency and profitability for the clients.
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North America is expected to contribute to the largest market share; Asia-Pacific to grow the fastest.
North America is expected to hold the largest market share and dominate the telecom service assurance market from 2016 to 2021, owing to the early adoption of new & emerging technologies, and the presence of large number of players in this region. Growth in this region is driven by the expansion of Long-Term Evolution (LTE) networks in the region. CSPs are looking for new innovative solutions to standardize their new 4G/LTE business models, provide better customer service, and measure the service quality & performance. The Asia-Pacific (APAC) region is in the initial growth phase; however, it is the fastest growing region for the global telecom service assurance market. The key reason for the high growth rate in APAC is the enormous population of this region, which has led to an extensive pool of subscriber base for the telecom companies.
The major vendors providing telecom service assurance solutions are CA Technologies (New York, U.S.), Ericsson (Kista, Stockholm), Hewlett Packard Enterprise (HPE) Company (California, U.S.), NEC Corporation (Tokyo, Japan), Nokia Corporation (Espoo, Finland), Accenture (Chicago, Illinois, U.S.), Amdocs Inc. (Missouri, U.S.), Comarch S.A. (Kraków, Poland), Huawei Technologies Co. Ltd. (Shenzhen, China), IBM (New York, U.S.), MYCOM OSI (Berkshire, U.K.), NetScout Systems, Inc. (Massachusetts, U.S.), Oracle Corporation (California, U.S.), Spirent Communications PLC (Crawley, U.K.), Tata Consultancy Services Limited (Mumbai, India), TEOCO Corporation (Virginia, U.S.), Viavi Solutions Inc. (California, U.S.), and ZTE Corporation (Shenzhen, China).
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Mr. Shelly Singh